Since my last post interest rates have bounced up and down between 3.25% and 3.50%. (For 30 year loans with 20% down under $417,000) That is not much of a change and things are not expected to change much for the short term. During the course of the year, however, economists and bankers are telling us to expect a slow steady rise. By the end of the year rates may be at 4% or more. This still leaves lots of buying opportunity.

In the mean time the public seems to have come to the conclusion that now is the time to buy. Remember all those foreclosed homes banks were trying to get rid of? They are gone. Remember the “shadow inventory” of homes that banks had foreclosed on but not yet put up for sale? It never happened. Now everything that hits the market, anywhere near a Fair Market Value is selling, and often with multiple offers.

So, if you tried to sell your home in the past and were unsuccessful or thought your only alternative was a short sale, think again.

Contact one of us at (855) 722-4466 today to get free no obligation market analysis of your home, town house or condo. While we specialize in Redondo Beach this offer is good throughout the south bay and many areas beyond.

The Federal Reserve is keeping interest rates at current levels for the next 6 weeks, and probably well into the new year. The government lenders Fannie and Freddie report current rates are one one hundredth of a percent above 50 year record lows. These rates can be locked in for 30 year terms and even lower rates are available for shorter terms.

Lenders still like to see owner occupants with 20% down, but many are making loans with 10% or even 5% down, FHA is still 3.5% down and a veteran can get a VA loan with nothing down. Investors of 1 to 4 unit properties generally need 25% down.

When these rates start to rise they will not come along again in our lifetime. So, pick your property and secure your loan. The real estate market is strong and all predictions are that it has no where to go but up.

If you are looking for a home or investment property, give us a call, (855) 722-4466 we know Redondo Beach and the surrounding area.

As your local Realtors, part of our commitment to you is knowing the inventory and finding the best deals on the market as they hit the market or as they drop in price. We take pre-viewing property seriously, so that we are familiar with the inventory, familiar with market prices and perhaps most important of all, finding the best deals and the Best Redondo Beach Homes for Sale so that we can let our clients know about them first! I write this blog every week after the Brokers Open House, so many of the properties will be Open to the Public on the weekend, check out our Open Houses Page or call us at 855-RBchHom (855-722-4466) or email us at info@TeamRedondo.com and we can find out.

If you plan to sell your home, don’t hesitate, give us a call at 855-722-4466 so that we can show your our extensive marketing plans, market knowledge and how the power of 8 agents working for you will bring you the results you are looking for!

My Pick of the Week is – 1918 Farrell Ave

This is a single family home for sale in North Redondo Beach with over 2000 square feet (according to the listing agent) and it is listed for $639,000.  This house doesn’t have much of a yard, it actually feels like a townhome in that respect, but otherwise it has LOTS of potential.  There is a downstairs area that is nice for a an older child, with a living room space, and  the upstairs has it’s own living space as well.  Nice tree top views from several rooms and 2 bedrooms upstairs.  It is very rustic, almost cabin like, but cool and could be remodeled into something totally different if the buyer wanted something more up to date.  I’m having problems with the MLS feed, so I can’t show the pictures here, but you can look it up from our MLS page – the MLS number is S12095858 or you can find it by address.  Good luck and act quickly!

As your local Realtors, part of our commitment to you is knowing the inventory and finding the best deals on the market as they hit the market or as they drop in price. We take pre-viewing property seriously, so that we are familiar with the inventory, familiar with market prices and perhaps most important of all, finding the best deals and the Best Redondo Beach Homes for Sale so that we can let our clients know about them first! I write this blog every week after the Brokers Open House, so many of the properties will be Open to the Public on the weekend, check out our Open Houses Page or call us at 855-RBchHom (855-722-4466) or email us at info@TeamRedondo.com and we can find out.

If you plan to sell your home, don’t hesitate, give us a call at 855-722-4466 so that we can show your our extensive marketing plans, market knowledge and how the power of 8 agents working for you will bring you the results you are looking for!

Pick of the Week – The market has been so hot for the last few months that the homes that are my favorites are in escrow before I have a chance to even write something!  For instance…

2120 Clark #A is a nice, front unit townhome in North Redondo Beach with french doors that lead off of the living room to an enclosed yard.  It has a lot of square footage and nice floorplan.  Its a little dated, but for the price, its a good buy and it’s in escrow.  They are accepting back up offers though!

222 S Juanita #A is a lovely front unit townhome for sale in South Redondo Beach with a fantastic roof top deck and sweeping ocean and Palos Verdes views.  It has a reverse floorplan with 2 bedrooms on the ground level and the master bedroom upstairs off the living room and large kitchen.  It is also in escrow, but also accepting back-up offers.    

One of my most reliable mortgage lenders just announced loan rates at an unbelievable 3.75% fixed rate for 30 years. [this is for conforming loans to $417,000, jumbo loans while a little higher are also at record lows.] He went on to say these are the lowest mortgage rates available since they started keeping records, sometime before he was born.

The Redondo Beach, beach cities and south bay housing market has been especially active this spring with good homes priced right selling quickly. If you want more information about the market, go to our market data pages; North Redondo Beach homes or South Redondo Beach homes where you will see how the inventory of homes for sale has dropped. Low inventory has also brought increasing values. Values have recovered sufficiently that most homeowners can now afford to trade up to a larger home to accommodate a growing family.

If you are buying or thinking of selling you can’t do better than the team at Team Redondo. Give us a call today to get an up to date market analysis of your home, 855-722-4466.

The Redondo Beach housing market is heating up! The market is hot! Redondo Beach has half the inventory it normally does at this time. And double the amount of properties in escrow as there are for sale! Properties are selling off market or within the first week on the market. Many times there are multiple offers on properties. Now is the time to sell! And it is still a great time to buy with interest rates as low as they have ever been! Here’s a great article on the California Economic Forecast with lots of information about the current state of the market. It’s hot! If you are ready to buy or sell, call Team Redondo at 855-722-4466!

Warren Buffet, The Wall Street Journal, The Fiscal Times, CoreLogic, Money.msn, and many more proclaim that NOW is the best time in generations to buy a home.

Loans are at the lowest rates since they have been tracking rates. Home prices have dropped to a point that in most communities you could not rebuild the home at its current price. Rents in many communities are higher than the cost of a monthly housing payment. Interest rates are under 4% for a 30 year loan and under 3% for a 15 year loan. FHA loans, with just 3.5% down, are available in higher amounts that you could not get several years ago. Most of us in the business wish we had the ability to buy (or buy more) investment properties.

Give us a call to find out how you can take advantage of this “perfect storm” of Low Rates, Low Prices and Low Down payment financing. Our toll free number is (855) 722-4466.

Redondo Beach pending home sales are up for the third straight month, highest level in nearly three years!
LOS ANGELES (April 24) – California pending home sales posted higher for the third consecutive month in March, rising from both the previous month and year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.  Additionally, the share of distressed sales dropped for the second consecutive month, as equity sales typically increase with the start of the spring home buying season.
Pending home sales: C.A.R.’s Pending Home Sales Index (PHSI)* rose from a revised 126.5 in February to 143.7 in March, based on signed contracts.  The March 2012 index was the highest since April 2009, when the PHSI was 146.9.  The index also was up from the 128.9 index recorded in March 2011, marking the eleventh consecutive month that pending sales were higher than the previous year.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
Distressed housing market data:
• The share of equity sales – or non-distressed property sales – compared to total sales increased in March to 55.4, up from 51.1 percent in February.  Equity sales made up 50.2 percent of all sales in March 2011.
• Meanwhile, the total share of all distressed property types sold statewide decreased in March to 44.6 percent, down from February’s 48.9 percent and from 49.8 percent in March 2011.
• The share of short sales was down again in March.  Of the distressed properties sold statewide in March, 21.1 percent were short sales, down from February’s share of 23 percent but up from last March’s share of 20.1 percent.
• The share of REO sales also declined in March to 23.1 percent, down from February’s 25.2 percent and down from the 29.4 percent recorded in March 2011.
Call Team Redondo for all of your real estate needs! We are here to help you!

As your local Realtors, part of our commitment to you is knowing the inventory and finding the best deals on the market as they hit the market or as they drop in price. We take pre-viewing property seriously, so that we are familiar with the inventory, familiar with market prices and perhaps most important of all, finding the best deals and the Best Redondo Beach Homes for Sale so that we can let our clients know about them first! I write this blog every week after the Brokers Open House, so many of the properties will be Open to the Public on the weekend, check out our Open Houses Page or call us at 855-RBchHom (855-722-4466) or email us at info@TeamRedondo.com and we can find out.

If you plan to sell your home, don’t hesitate, give us a call at 855-722-4466 so that we can show your our extensive marketing plans, market knowledge and how the power of 8 agents working for you will bring you the results you are looking for!

My Pick of the Week this week is 620 N Irena #A

This is a lovely, ocean view townhome in South Redondo Beach at a great price.  Although this home was built in 1989, it has been nicely updated from floor to ceiling throughout.  Wood floors, travertine in baths and seamless shower, New Kitchen with custom granite countertops and stainless steel appliances, plantation shutters and custom lighting.  The french doors throughout really add a nice touch to this home and the big bonus room downstairs with bathroom and sauna are a huge plus.  I’m quite sure this house will sell over list price, so be aggressive with your offer and good luck! The market is HOT HOT HOT!

I Found Interesting: 1814 Harriman Lane #A and 2015 Harriman Lane #A

Look at these two, front unit townhomes in North Redondo, located on the same street just 2 blocks apart, built 2 years apart with virtually identical floorplans.  One is priced at $789,000 and the other at $859,000.  The lower priced home is across the street from a parkette and the higher priced home has higher end finishes (as the market went up from 2002-2006 in Redondo Beach, so did the finishes.  We then saw the opposite occur, as the market declined and builders were scrambling to finish product and minimize losses.   Both are nice homes and interesting to compare – check them out on Open House days.

With summer quickly approaching it’s never to early to plan a fun outing in Redondo Beach. One of the many great weekends include The Riviera Village Summer Festival, June 23rd & 24th from 10am to 7pm. Come out to celebrate the Riviera Village Associations 34th year.

The festival features arts and crafts booths, food from international vendors and of course carnival rides for the kids. They also have local acts that perform on the community stage. A beer garden with an ocean view, free bike parking area and a shuttle bus to take you in.

A great way to enjoy our wonderful beach city. Details on their webpage at: www.rvsummerfestival.com